08:26 AM EDT, 09/11/2025 (MT Newswires) -- Telus ( TU ) (T.TO, TU) Thursday said it closed its $1.26 billion transaction with La Caisse, Canada's second-largest pension fund, which acquired a 49.9% equity interest in its wireless tower infrastructure unit, Terrion.

The deal values the newly formed Terrion at more than $2.5 billion and will reduce Telus's ( TU ) net debt by $1.26 billion, the company said.

Terrion operates about 3,000 tower sites across British Columbia, Alberta, Ontario and Quebec.

"Today's announcement marks a significant milestone for both Telus ( TU ) and Canada's telecommunications industry as a whole," said Darren Entwistle, chief executive officer.

"Indeed, with 3,000 sites across the country and growing, Terrion is Canada's largest dedicated wireless tower operator. This unique partnership not only supports national wireless competition through wholesale access, but also unlocks significant value for Telus ( TU ) shareholders by strengthening our balance sheet and accelerating our deleveraging program."

Telus ( TU ) shares were recently up $0.01 at $15.83 in U.S. pre-market trading after closing down $0.32 at $21.96 on the Toronto Stock Exchange Wednesday.